Suppose the following financial data were reported by 3M Company for 2013 and 2014 (dollars in millions).

Instructions
(a) Calculate the current ratio and working capital for 3M for 2013 and 2014.
(b) Suppose that at the end of 2014, 3M management used $200 million cash to pay off $200 million of accounts payable. How would its current ratio and working capital havechanged?

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3M COMPANY Balance Sheets (partial) 2014 2013 Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets 3,040 3,250 2,639 1,866 $10,795 4,897 $1,849 3,195 3,013 1,541 $9,598 5,839 Total current assets Current liabilities